Takenaka Partners Advises Asahi Intecc USA, Inc. on its Acquisition of Pathways Medical Corp.

Asahi Intecc USA, Inc. (“Asahi”), a wholly-owned subsidiary of Asahi Intecc Co., Ltd. (“Asahi Group”), has acquired Pathways Medical Corporation (“Pathways”), a company with unique technology related to electrical wiring that can be formed on the surface of guide wires, etc. Asahi Group acquired the company with the aim of applying this technology to the stroke smart guide wire that it has been developing jointly with SENSOME in France. Takenaka Partners LLC (Los Angeles, CA) acted as the financial advisor to Asahi, providing due diligence and business advisory services.

Asahi Group, based in Aichi, Japan, primarily develops, produces, and sells guide wires, guiding catheters and balloon catheters which are medical devices indispensable for catheter treatment.  The  company has also expanded its product line to encompass other areas, such as peripheral vascular, abdominal, and cerebrovascular areas. Asahi Group’s sales channels extend to approximately 110 countries and regions with a market share of approximately 80% in Japan, 30% in the United States, 50% in Europe and the Near and Middle East, and 60% in China. Asahi Group has production sites in Thailand, Vietnam, and the Philippines, and R&D centers in Japan and the United States.

Pathways, based in New Castle, Delaware, is involved in the research and development of guide wires with sensors utilizing thin film electrical conductor technology. Pathways has the technology to form electrical wiring with an ultra-thin film on the surface of guide wires, etc. and a unique technology for connecting the wiring to sensors. In 2019, the company completed the first-in-man study on the guide wire equipment with the sensor, and the technical feasibility has been proven. By using the technology of Pathways, a very thin and uniform film can be laminated on thin and curved surfaces, such as those found on guide wires or catheters.

By incorporating Pathways’ technological capabilities, Asahi Group will be able to strengthen its own development of guide wires and catheters with sensors centered on smart guide wires. Asahi Group believes that this will lead to the realization and expansion of its new medium- to long-term business areas, as it will be possible to apply these technological capabilities to new and epoch-making products. By making Pathways a subsidiary, Asahi Group will continue to strive to promote digitizing medical care and help spread minimally invasive treatment products in a wide range of fields and improve patient quality of life.

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